News Headline Summary

WTI and Brent crude futures have both strengthened later in the session paring early losses after OPEC cut demand for both the short and longer term and broadly weaker USD index brought futures into negative territory. Energy complex strength mirrored risk on sentiment across US equity markets following a stronger than expected headline for University of Michigan Consumer Confidence. RBOB gasoline futures led the energy complex showing gains due to ongoing supply tightness in the continuing aftermath of hurricane Sandy.